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Tunisian Labour Union, UGTT criticises IMF bailout conditions

Published

1 year ago

May 2, 2023

Tunisia’s General Labour Union (UGTT) has raised concerns over proposed financial bailout by the International Monetary Fund (IMF) for the country.

UGTT president, Noureddine Taboubi, in his May Day speech at Sfax, criticised what he described as “an IMF government” as protesters chanted “No to colonization.”

Although the Tunisian government in a bid to secure the deal had announced plans to remove subsidies on fuel products, President Saied has refused to restructure public bodies and lift subsidies on other basic goods as part of requirements by the international lenders, and the labour union approves of the approach.

“We back the position of the president”, Kais Saied, who last month rejected what he called IMF “diktats” for Tunisia to be granted the loan, Taboubi said.

Taboubi said that the president had “associated himself” with the UGTT, an organization that is opposed to selling off publicly traded enterprises and ending subsidies.

“This makes us wonder whether there is any value in the government negotiating with the IMF,” he said.

The IMF’s bailout requirements, according to Taboubi, would “impoverish the Tunisian people even more” in a nation where unemployment is over 15% and inflation is already over 10%.

The IMF, the United States, and other international donors stopped the bailout talks and demanded reforms from President Saied to free up the market.

Meanwhile, Italy expressed worry last month that IMF’s block on a $1.9 billion loan to Tunisia might lead to a new wave of migrants towards Europe.

VenturesNow

Uganda discusses power line to South Sudan with China’s Sinohydro

Published

15 hours ago

May 15, 2024

Ifeoluwa Dada

According to the president’s office, Uganda is in negotiations with Sinohydro Corporation Limited of China to build a $180 million power transmission line that would enable Uganda to export electricity to South Sudan, which is severely short on energy.

Ugandan President Yoweri Museveni received a group led by Vice President of Sinohydro Corporation Yang Yi Xin on Monday as part of the negotiations, according to a late-morning statement from Museveni’s office.

The project, according to the statement, will entail building a new substation and expanding two existing ones in addition to building a 138-kilometre high-voltage transmission line to provide power to South Sudan.

“We are very much willing to help develop this project with the required finance if needed,” Xin was quoted as telling the president.

The statement stated that Museveni endorsed Sinohydro’s proposal to carry out the project. Uganda and South Sudan inked a power sales deal in June of last year, enabling Uganda to sell electricity to South Sudan.

To enable Uganda to export electricity to South Sudan, the two nations inked a power sales deal in June of last year. The Chinese firm is completing a $1.5 billion, 600-megawatt hydropower project on the River Nile in Northern Uganda that is meant to be the source for electricity exports to South Sudan.

VenturesNow

Uganda considers nuclear energy to meet increased electricity demand

Published

17 hours ago

May 15, 2024

Ifeoluwa Dada

Uganda’s Ministry of Energy and Mineral Development announced on Tuesday that it was collaborating with the International Atomic Energy Agency (IAEA) to develop nuclear energy in the country as power demand rises.

Irene Batebe, permanent secretary of the ministry, stated that the government, with the assistance of the IAEA, is investigating and evaluating uranium deposits to ensure a sustainable supply of nuclear fuel for the projected nuclear power plants and research reactors.

“Uranium is the most widely used nuclear fuel material in nuclear power plants and research reactors and is required for Uganda’s nuclear power program.

“The planned nuclear power capacity will require about 4,000 tons of Uranium annually when fully operational. Thus, there is a need for sustainable sources of uranium,” she said at the opening of the nine-day meeting with the experts from the IAEA.

Batebe stated that the government is modifying the Atomic Energy Act of 2008 to tighten the legal framework for the exploration, mining, and processing of nuclear fuel reserves. She stated that even if completely exploited, the country’s electricity generation capacity from hydro, biomass, geothermal, and peat will fall short of Uganda Vision 2040 ambitions.

“To meet our development targets, nuclear energy among other sources must be integrated in the electricity generation mix,” she said.

The Cabinet approved the Energy Policy for Uganda, 2023 in April 2023, which envisions the long-term development of 52,481 MW of generation capacity to meet future demand, with nuclear power accounting for 24,000 MW.